Rishi Sunak has pledged his support for the newspaper industry as he aims to become the next Prime Minister.

Mr Sunak has vowed one of his first acts as PM would be to give the new Digital Markets Unit the power to step in to solve pricing disputes between news outlets and platforms, should he be elected as the new Tory leader.

The unit has been launched as part of a new regime aimed at better regulating the biggest technology firms, but is yet to be put on a statutory footing.

Mr Sunak, pictured, pledged his support to the industry in a letter to the News Media Asssociation, the trade body for the regional and national press.

He wrote: “I hope that you were reassured by my track record as Chancellor that I strongly back the newspaper industry.

Early on in the pandemic, we were deeply concerned about reports of the potential loss of some important local, regional and even national publications – but through intensive work together, particularly on advertising, this situation was thankfully averted.

“That said, I know the long term sustainability of this vital industry cannot be taken for granted, which is why as Chancellor I pushed for the creation of the Digital Markets Unit and for it to be put on a statutory footing with real teeth.

“I also took the decision to zero-rate VAT on digital publications, something long overdue, which will support digital revenues and has reduced prices for consumers.”

The former Chancellor also said he would repeal Section 40 of the Crime and Courts Act 2013 before the next general election if selected.

The legislation, designed to force publishers to sign up to a ‘recognised’ system of press regulation, would have seen media organisations having to pay the legal costs of both sides in libel and privacy cases, regardless of whether they win, unless they signed up to an approved press regulator under the government’s Royal Charter.

Mr Sunak added: “I support the growth of digital industries, but believe we will only achieve a thriving digital economy in the UK with properly functioning markets.

“I am therefore happy to confirm that I would take forward the promised Digital Markets legislation this autumn, including measures to ensure fair terms between publishers and platforms, if I am selected as Conservative Party leader and Prime Minister.

“Finally, I can confirm to you now that I will repeal Section 40 of the Crime and Courts Act as a matter of urgency.

“It’s vital that we remove this measure which seeks to coerce the press and stifle free speech ahead of the next General Election.”

The NMA approached all candidates early in the Conservative leadership campaign to seek their views on key media industry issues.